Neo-Liberal Theory

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  • Created by: chend96
  • Created on: 22-04-14 11:55
Outline the definition for the neo-liberal economic approach
It's based on minimal state intervention, trade liberalisation, emphasis on free markey capitalism without restrictions and free trade.
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What does this theory insist on? (overcoming)
Developing countries overcoming the barriers to free market capitalism
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What will this allow?
Capitalism to generate development
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What do neo-liberals focus on? (theories and inistitu)
Economic theories and institutions which hold back development, because the limit the free market.
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What do neo-liberals state about aid?
That developing countries can develop duccessfully without aid intervention from developed countries
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If allowed to work freely, what will capitalism generate?
Wealth
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Who will have created this wealth?
A minority of people, such as entreprenuers
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What will this allow for?
The trickle down of wealth to others in that country
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Neo-liberals state that wealth begins to accumulate when?
Developing countries pursue their own self interests and are free from government restraint.
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Give and example of this?
Chile in the 1970's
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What are SAP'S?
Neo-liberal economic policy which gives money to the country only if they agree to follow neo-liberal policies and reofrm their economy/country
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What is the IMF?
An IGO, which gives loans to countries
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What does this therefore lead to?
A spread of neo-liberal economic policies
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What is the World Bank?
An IGO which gives loans and aid to countries in order to fight poverty
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What are IGO'S?
Organisations established by states
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Give three examples of IGO'S
World Bankk, IMF and WTO
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What is the washington consensus?
A set of neo-liberal policies which are believed to reform economies and promote development
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Card 2

Front

What does this theory insist on? (overcoming)

Back

Developing countries overcoming the barriers to free market capitalism

Card 3

Front

What will this allow?

Back

Preview of the front of card 3

Card 4

Front

What do neo-liberals focus on? (theories and inistitu)

Back

Preview of the front of card 4

Card 5

Front

What do neo-liberals state about aid?

Back

Preview of the front of card 5
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